meetings has been anything less than helpful is just wrong. >> reporter: we asked cantor where he was willing to compromise and he said the very fact that he's willing to raise the debt limit is a compromise but he's voted to raise it four times in the past, scott, when president george w. bush was in office. >> pelley: nancy, the president says he wants to know by tomorrow whether a deal is possible but if the default deadline is august 2, why the urgency. >> reporter: even if they were to reach a deal tomorrow, scott, which looks unlikely, they'd have to take that plan back to their respective caucuses in the house and senate and sell it to their members because it doesn't mean anything unless they can get the votes. then they have to write it up into legislative language, hold votes in the senate, pass the exact same bill word for word, no amendments, no word changes and send it to the president's desk for signature and as you can hajj, all that takes time. >> pelley: thanks, nancy. we have late word tonight from minnesota.